Oil Market Snapshot — Thu, 23 Jul 2026 08:00 UTC
Published 2026-07-23 08:05
The Strait of Hormuz is closed following Iran's seizure of a Greek tanker, pushing Brent Crude to $100.50/barrel (+5.57%) and WTI Crude to $101.70/barrel (+5.31%) in the last 24 hours. The "Disruption Index" remains at 99. Brent Crude (front-month) posted $97.47/barrel (+3.61%), and WTI Crude (front-month) hit $89.47/barrel (+3.05%). Petrochemical prices spiked by 53.52%, though specific figures are unavailable. This incident elevates geopolitical risk premiums across the energy complex. Continued closure of the Strait will drive sustained price volatility and intensify supply concerns.
Price snapshot
| Commodity | Price | Change |
|---|---|---|
| Brent Crude Oil | 100.5 USD/barrel | 5.57 |
| WTI Crude Oil | 101.7 USD/barrel | 5.31 |
| LNG Europe spot price | 0 EUR/MWh | 0 |
| Urea fertilizer spot price | 0 USD/MT | 0 |
| Methanol spot price | 0 USD/MT | 0 |
| Sulfur spot price | 0 USD/MT | 0 |
| Aluminium LME spot price | 0 USD/MT | 0 |
| VLCC tanker freight rate | 0 USD/day | 0 |
| Petrochemicals | USD/ | 53.52 |
| Brent Crude | 97.47 USD/barrel | 3.61 |
Top movers
- Petrochemicals: % —
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- Brent Crude: % —
- WTI Crude: % —
Related news
- Iran Seizes Greek Tanker Near Strait of Hormuz Amid Regional Tensions — Iran has seized a Greek-owned tanker near the Strait of Hormuz, marking the third such incident since the regional conflict began. This action further highlights heightened tensions and the risk of disruptions to global oil supply chains through the critical chokepoint.
Frequently asked questions
- What moved oil prices this hour?
- Petrochemicals led with a +53.52% move.
- What is the current Strait of Hormuz status?
- Iran blocks Strait of Hormuz, oil prices soar amid tanker incident
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.